Significance of B2B Marketplace for trading globally

B2B Trade Portal is a B2B online portal (Business to Business), created through the exclusive partnership. It is the main channel specialized on the Internet to promote and generate business for Micro, Small and Medium-sized Enterprises (SME’s). B2B Trade Portal connects millions of companies around the world with Brazilian companies through a unique business platform. All the companies registered in B2B Trade Portal participate in a Global Market of great exposure. The focus of B2B Trade Portal is to promote companies internationally. These companies are a great source for attaining economic growth. B2B marketplace uses the internet as a communication, research and business tool. Global trade B2B marketplace requires access to new markets and increase participation of companies in international trade. With this business, brand becomes recognized that increasing credibility with international companies that interested in doing business across different regions.

The reason for developing segments in the B2B marketplace is to identify the needs and behavior that vary across the business, and consumer behaviors are rational than the business. There are various insecurities that come across the buyers. However, global trade B2B marketplace ensures that everyone in the business gets involved in buying decision making that developed business norms overtime that supports for filtering extreme behavior if the decision has left the individuals in without any accountability of other. The need-based segmentation has emerged in the b2b marketplace that is similar across different industries. However, the market segmentation in the b2b marketplace is divided into the following:

Service focused Segment: this has created extraordinary requirements for the product quality with the service range. The products featured in this segment do not end after purchase, as it requires after-sale services and delivery. Companies in this segment are involved in the critical manufacturing process that includes all categories of segments. The purchase under this segment occurs in bulk quantities with high volumes.

Quality focused Segments: this is based on the desire to have best product for which the company pays for. This is also associated with higher returns and business is of a large corporation or medium companies that have developed significant strategic importance for its products and services.

Price-Focused Segment: This has provided the transactional outlook for businesses operations and does not require any additional cost. Companies operated in this segments are comparatively small with low margins and less strategic importance of business operations in relation to its products and services.

Partnership-focused segment: This has contained key accounts that seek trust and business reliability while considering any business partners. They tend to consider supplier as the key strategic business partner. These companies tend to be large with higher turnover and consider the products and services as a strategically important element.

The market segmentation in the b2b marketplace has provided multiple benefits for the business that includes enabling the management to compare market opportunities that support for identifying customer needs. This results in development of appropriate strategies for catering the need of each segmentation — the proper operation of b2b marketplace results in managing the finance better with development of practical budgets.